Following rate drops in Hartford in August, Uber has announced more rate drops effective today across the state. Fares will be dropping 20 percent.
Uber said in a blog post, “After first implementing this pricing change in Hartford in August, we’ve seen positive effects for both riders and partners. Riders are able to rely on Uber more than ever, and driver-partner net earnings have grown by 35 percent. So we’re excited to extend these fares to all Connecticuters.”
David Cadden, professor emeritus in the School of Business at Quinnipiac University, said these drops shouldn’t be seen as a sign of weakness by the ride-sharing company. Cadden said that normally a reduction in price indicates a business is in trouble. But the professor said he believes Uber may be trying to build up some goodwill among customers in case it needs to draw upon it in the future.
“In a number of cities, Uber has had problems with the reactions of taxi companies,” he said. “I think they’re looking to drive business to them so that if they do face any legal or political issues in the future, they will have a cadre of satisfied users who they know will support them.”
